Why you should be renting out a co-working space

It’s actually been scientifically proven that people perform better in co-working environments.

In a paper published in June of this year, ResearchGate discovered that working in a collaborative and social office stimulates a psychological state adeptly known as ‘thriving’.

According to their study, individuals experience a sense of vitality and learning which is directly linked to their improved job performance and a proactive outlook.

“The energy of a co-working space increases productivity and chance meetings with other people who can assist in solving problems or lead to impromptu business contacts,” says Amber Holmes, manager of Melbourne co-working space, The Cluster. “They allow individuals to absorb new ideas and insights from other industries not usually in their network.”

Unlike a traditional office, a co-working space is filled with people who work for a range of different industries, companies, and institutions. This melting pot of professions is a haven for innovation, and because it’s not a traditional office with politics and competition, individuals feel much more comfortable sharing ideas and expressing their true self.

As Australia’s leading co-working space, The Cluster sees this kind of teamwork and problem solving happening on a daily basis.

“The diversity and the high quality of the members are integral to the community. We have people from a variety of industries working here – green energy engineers, PR professionals, lingerie designers, architects, augmented reality experts and share traders, just to name a few,” says Amber.

“The atmosphere is electric. There’s always something happening, with problems being solved, conversations being had and big ideas being born.”

We at The Entourage can attest to that – our Melbourne headquarters are hosted in one of The Cluster’s beautiful offices, and our high-performing team couldn’t be happier.

That sense of community and ability to network is probably one of the main reasons why we choose to base our team in a communal space as opposed to your run-of-the-mill office.

As the staff at The Cluster will tell you, co-working offices are home to a high-energy and disruptive vibe, making them perfect for entrepreneurs and those who want to leave their mark on society.

While co-working centres are essentially workspace providers, the services they offer are akin to those you’d find in the hospitality industry.

“The Cluster offers a telephone answering service for our members so that they can keep all facets of business in-house with their very own receptionists,” Amber tells us.

Not only that, but this world-class co-working space is also home to a bar and café for those late nights, fast and reliable internet, multiple Skype rooms, a quiet library space, endless refreshments, two boardrooms and, most importantly, a 360-degree river and ocean views.

With this in mind, it’s hardly a surprise that people’s productivity is boosted dramatically.

“Research shows that start-ups who work in a co-working space are four times more likely to succeed than those who don’t,” writes Nathan Chan, creator of entrepreneurial magazine Foundr.

He quotes a Deskmag.com study that revealed that 46% of business owners reported earning a higher income since they started operating in a co-working space. Not only that, but the majority of participants found they were also able to relax more easily at home and felt more supported and confident in their ventures.

“Working in these spaces ensures you will always be surrounded by like-minded, talented individuals and teams which can really benefit you in the short and long term,” he writes in a 2015 post.

“You can guarantee that if there’s some part of your business that you’re having trouble with and you need some help, the person next to you might have the solution.”

One thing you won’t need help with is the cost of renting a space. Co-working offices are pretty affordable when compared to the cost of hiring a corporate office.

“Most won’t even ask you for a lock-in contract,” writes Nathan. “Depending on the space, you’ll be able to find places that offer daily rates or even month long contracts, so you don’t have to be committed for long.”

The Cluster is one of those places, with day passes starting at just $40. They’re currently offering new permanent desk members who sign up before October 24th a variety of amazing extras. Choose from a PR short course designed by yours truly at The Entourage, four hours of boardroom hire, a two-hour LinkedIn influencer workshop, two tickets to any networking event hosted by The Cluster and more.

About The Entourage

The Entourage is Australia’s largest educator and community of entrepreneurs with over 100,000 members around the world.